16. Change in the price of one commodity
affects the demand of the other, is known
as:
(A)
Complementary demand
(B)
Substitute demand
(C)
Income demand
흐
(D)
Cross demand
Answers
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Answer:
B is the correct answer
Explanation:
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Answered by
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Answer:
C). Income demand
Explanation:
Let us now study income demand which indicates the relationship between income and the quantity of commodity demanded. It relates to the various quantities of a commodity or service that will be bought by the consumer at various levels of income in a given period of time, other things being equal.
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